Commenting on the report, an analyst from Technavios team said: A trend that is positively impacting market growth is the advancements made in high barrier flexible packaging material. Increased use and advancement of high barrier flexible packaging products are fueling market growth. High barrier flexible material contains resins that protect the products from being exposed to moisture and oxygen. This helps in providing longer shelf life to food products. Packaging made from these materials has higher performance than other packaging products as specialized coatings and laminated structures along with resins are used to develop this form of packaging. Some high barrier plastics used in the development of pouches include biaxially oriented polyethylene terephthalate (BOPET) and ethylene vinyl alcohol (EVOH).

According to the report, a key growth driver is the long shelf life of retort packaging. Reducing food wastage has become a major concern for most countries. According to the Food and Agriculture Organization of the UN, it is estimated that nearly one third of food produced for human consumption is wasted globally, which is around 1.3 billion tons annually. Packed meat, dairy products, bakery and confectionery products, and daily meal products are wasted if they are not sold within a month of packaging. This wastage in...